Michael Saylor’s MicroStrategy Adds $6 Million to Bitcoin Trove

  • MicroStrategy said it bought roughly $6 million in bitcoin between August 2 and September 19.
  • Michael Saylor’s firm bought the 301 bitcoin tokens for an average price of about $19,851.
  • The company holds more than 130,000 bitcoins, acquired for a total price of about $3.98 billion.  

MicroStrategy, helmed by famed bitcoin-bull Michael Saylor, purchased about $6 million in bitcoin between August 2 and September 19, a Tuesday SEC filing showed.

That’s good for about 301 bitcoin, bought at about an average price of $19,851 per token using excess company cash. Leading up to September 22, MicroStrategy held about 130,000 bitcoin, bought at an average price of $30,639. 

The world’s biggest cryptocurrency has fallen more than 10% in the last four weeks, and is down more than 60% in 2022. 

Shares of MicroStrategy, similarly, are down roughly 64% year to date. 

Saylor, who in August stepped down as CEO and pivoted into a role as executive chairman, founded MicroStrategy in 1989 and has since molded the company’s stock into, effectively, a highly leveraged bitcoin bet.

Meanwhile, the enterprise software maker had taken a quarterly impairment charge of more than $900 million, connected to the dip in bitcoin’s price. 

Earlier this month, Saylor was accused of evading $25 million in District of Columbia taxes.

“Since at least 2012, Saylor has bragged to his confidants about his successful plan to create the illusion of residing in Florida in order to evade the District’s personal income taxes,” the lawsuit alleged.

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